Contracting as a Sole Trader
While most contractors find operating under limited companies or umbrella companies more beneficial financially than operating as a sole trader, for some contractors the status still offers significant...
View ArticleContracting vs Permanent Employment
Contracting can offer some great benefits over permanent employment but it isn't for everyone. If you're used to working on a permanent salaried basis you will notice a lot of changes if you start...
View ArticleContracting with a Limited Company
Working through a limited company certainly can have its benefits, but contractors also need to bear in mind that it comes with extra responsibilities. Accounts Keeping detailed accounts is a central...
View ArticleWhat is a CIS Scheme?
CIS, or the Construction Industry Scheme, is a set of rules that govern subcontractors pay within the construction sector. It focuses on payment to subcontractors by contractors and will predominantly...
View ArticleWhat is a Contractor Offshore Solution?
An offshore tax solution can be beneficial for contractors looking to reduce their tax liabilities. Some of the offshore solutions can lead to a dramatic rise in net income, taking the 65 per cent of...
View ArticleWhat is a PAYE umbrella company?
As a contractor, workers have two main choices when it comes to payment: They can opt to run a limited company themselves or they can choose to sign up to a Pay as You Earn (PAYE) umbrella company....
View ArticleWhat is IR35?
IR35 is an arm of tax legislation that was rolled out in April 2000, meaning that Her Majesty's Revenue and Customs (HMRC) could tax certain contractors as though they were permanent employees of their...
View ArticleComparing Limited Versus Umbrella Company
Individuals choosing to become contractors have a tough decision to make at the outset – whether to organise as a limited company or utilise the services of an umbrella company. Operating under either...
View Article7 Top Benefits of Joining Umbrella Companies
Individuals who prefer to operate independently as contractors can retain many of the benefits of the livelihood of a PAYE employee, whilst still also retaining much of the freedom the contracting work...
View ArticleWhy are Dispensations Important to Umbrella Companies?
An extensive amount of misinformation floats around about umbrella companies and what actions they can legally take. It happens in any industry, but particularly so in this one because it is relatively...
View Article4 Myths about Umbrella Companies
Because umbrella companies are relatively new in nature, not every contractor has a full understanding of how they operate. To add to the confusion, some companies disseminate misleading or inaccurate...
View ArticleHow do Contractors Work with an Umbrella Company?
While umbrella companies are gaining popularity, not every contractor uses their services. Some contractors may have enjoyed handling their taxes and payment administration on their own, while others...
View Article8 Tips for Choosing an Umbrella Company
Umbrella companies have gained a large amount of notoriety in the past years. Because of all the hassle they take out of taxes and payment administration for contractors, individuals have begun using...
View Article12 Key Terms to Understand about Umbrella Companies
Employees entering the contracting field for the first time experience an overwhelming feeling. Many questions race throughout their mind, causing great stress. Fortunately, umbrella companies and the...
View ArticleTop Questions to Ask an Umbrella Company
Unfortunately, even though umbrella companies offer a valuable service, many times they exaggerate the true value they offer to contractors to earn their business. For contractors, it is therefore...
View ArticleContracting through an Umbrella Company
Individuals ready to venture out on their own and become contractors face a number of different challenges they didn't encounter as employees. Some of those include: Collecting payment from clients...
View ArticleUmbrella Company Special Info: Use Niche to Succeed
Umbrella companies see many sorts of contractors use their services and enter in through their doors. With the freelancing industry taking off across the globe and in the U.K., this trend isn’t a...
View ArticleWarning: Freelancers should be on the Lookout for Cyber Attacks
Every contractor knows they happen, but how frequent are they really? According to a report by the Department of Business, Innovation, and Skills, 87% of all smaller firms experienced a cyber attack...
View ArticleHow do Umbrella Companies Work?
Since 2000, umbrella companies have exploded in growth. This is due in part to IR35 legislation, which means HMRC checks more carefully for "disguised employees," and because of the explosion of growth...
View ArticleHow to Claim Mileage Expenses with an Umbrella Company
HMRC is cracking down harder than ever before on 'allowable expenses.' For contractors, mileage related to business operations can be claimed as an expense. However, it is important for contractors to...
View ArticleNews from Umbrella Companies: Another Contractor Job Boom is Near
The news continues to get more encouraging for current and prospective contractors: the Recruitment and Employment Confederation predicts temporary and interim workers will once again become high in...
View ArticleUmbrella Company Advice: How to Comply with IR35
Introduced in 2000, IR35 aimed at clearly identifying those who are acting as employees. At the time, many claimed to be their own "personal service company," when the more appropriate choice would...
View ArticleUmbrella Company Guide to Professional Indemnity Insurance
What happens if a contractor acts in good faith, but a client becomes upset and attempts to sue him or her in a court? For a contractor, this is bad news. The client may be able to make a substantial...
View ArticleUmbrella Company News: Britain's Companies Need Skilled Workers
A short report published by the Recruitment and Employment Confederation (REC) notes Scotland performs better than the rest of the United Kingdom on all major market measures for young people. Most of...
View ArticleUmbrella Company Study: Freelancers More Productive
There is no doubt the work demographic in the UK and across the globe is shifting to include more contractors who commute virtually. According to a survey conducted by FreelanceSuperMarket.com in June...
View ArticleUmbrella Company Tax Guide: Which Expenses are Allowable?
Many umbrella companies claim they can save contractors more money on their taxes than others. Contractors who hear of an umbrella company purporting such practices should not use the services of such...
View ArticleTop 10 CV Cliches Contractors Should Avoid
If a potential client requests a curriculum vitae, contractors must do all they can to stand out from the rest of the crowd. Cliches help contractors stand out, but not in a good way. Contractors,...
View ArticleUmbrella Company Advice: How to Comply with IR35 – Part 2
A continuation from part one, this guide gives contractors additional tips for complying with the sometimes tricky IR35 legislation. As a reminder, it targets individuals who secure tax breaks by...
View ArticleUmbrella Company News: 56.5% of Freelancers Don’t Understand Payslips
Paraplus, an umbrella company located in Knutsford, recently conducted a survey among 2,000 UK freelancers, which yielded the startling result that 56.5% didn’t fully understand their payslips....
View Article4 Steps Contractors Can take to Secure Home Loans
Umbrella companies have found that contractors often encounter more difficulty than employees when it comes to securing the funds necessary for home loans. “The number of self-employed peopled has...
View Article37% of Contractors Penalised by HMRC
A recent study found this interesting statistic and a few others after a survey of 2,000 various contractors: 42% of contractors are confused by HMRC guidelines 54% weren’t sure which expenses could...
View ArticleAdvice for Contractors: How to Recover from a Bad First Impression
Even the most experienced and skilled contractor sometimes makes a mistake that causes a poor impression on the client. To err is human. What separates the good contractor from the great one,...
View ArticleAdvice from Umbrella Companies: How to Fit In
Even though contractors get the opportunity to work independently as respected specialists, they still share one important responsibility with employees: fitting in culturally with the new company....
View ArticleMost Common Expenses Contractors Forget to Claim
When the discussion of paying taxes to HMRC arises, the conversation often revolves around contractors taking illegal and excessive tax deductions. But, research by umbrella companies shows contractors...
View ArticleWhy Read Umbrella Company Reviews?
Because the contracting field has been growing so fast over the past decade, many umbrella companies have sprouted up to meet demand. In addition, IR35 legislation, which was introduced in April of...
View ArticleUmbrella Company Guide: Do Contractor’s Need IR35 Insurance?
The answer is of course, "it depends". Basically, HMRC can review any contract and determine whether it qualifies as "disguised employment". If, according to HMRC’s criteria, the contract qualifies...
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